Category: Income Tax Help

Income Tax Help blog includes income tax declarations, guides, e-verification of returns, income tax notice and more.

Online FATCA self-certification – mandatory declaration for NPS Subscribers

NPS subscribers who have registered on or after 1 July 2014 have to give a mandatory FATCA declaration online or offline. FATCA refers to Foreign Account Tax Compliance Act. It is a US initiative which has also been entered into by Indian government. Under this agreement, the Indian government needs to give details of all… Continue reading Online FATCA self-certification – mandatory declaration for NPS Subscribers

What is Rent Free Accommodation (RFA) and its Taxability?

What is Rent Free Accommodation (RFA)? RFA means house provided to you by your employer for residential purpose. Some employees get the facility of accommodation from their employer without any charge but in some cases it chargeable to some extent. Hence, in a simple way, RFA is a part of perquisites that are considered as… Continue reading What is Rent Free Accommodation (RFA) and its Taxability?

What are Direct Taxes & Indirect Taxes in India?

Before discussing the Direct Taxes & Indirect Taxes in India, let us first understand what is the meaning of tax.  What is a Tax? A tax may be defined as a “pecuniary burden laid upon individuals or property owners to support the government, a payment exacted by legislative authority. In simple words, the tax is… Continue reading What are Direct Taxes & Indirect Taxes in India?

Want to Avoid Invalid ITR ? Read this

Invalid ITR

Filed your return before the due date but forgot to verify before the expiry of time limit? Then in such case, your ITR has become an invalid ITR and now you would have to file the ITR again. Surprised? Yes, you heard it right. Now, you need to file your ITR as a belated return. Don’t know… Continue reading Want to Avoid Invalid ITR ? Read this

5 Changes in PAN Card Rules Which You Should Know

PAN Amendment

PAN Card or commonly known as Permanent Account Number is a very important document for undertaking financial transactions. For e.g., if you want to trade in share market then to open a Demat Account, quoting PAN is mandatory. Hence any change or amendment in PAN rules is sure to watch out for. Recently, CBDT introduced… Continue reading 5 Changes in PAN Card Rules Which You Should Know

Sachin Tendulkar clean bold the Income Tax Ruling in his favor

Sachin Tendulkar got the benefit u/s 23(1)(c)

Recently, Mr. Sachin Tendulkar got a favorable ruling from a tribunal over a tax disputed case on one of his vacant property. If you are also the owner of more than one house then you definitely need to read this !! Let’s have an overview of his case and find out how it may help… Continue reading Sachin Tendulkar clean bold the Income Tax Ruling in his favor

Waiting for Refund ? Check the ITR V Status

Know how to check your ITR V status.

Do you know how to check ITR V Status? You must be thinking that why we are asking this “out of the blue”question. Well, if your ITR is not yet processed or your refund (if any) hasn’t been credited then this question is relevant for you. 7 out of 10 people still think that just filing… Continue reading Waiting for Refund ? Check the ITR V Status

Jurisdiction free online assessment : Now no more visits to IT dept.

Jurisdiction free Online Income Tax Assessment

Received a scrutiny notice? Then the next image coming to your mind must be of an Income Tax Office. Where you might have to go again and again and wait for long hours to meet the IT Officials. Well, not anymore:)!Income Tax department has launched the jurisdiction free e-tax assessment of scrutiny cases.The system will… Continue reading Jurisdiction free online assessment : Now no more visits to IT dept.